SOCIAL NETWORKING WITH A PURPOSE. Building Your Referral Machine

Transcription

1 SOCIAL NETWORKING WITH A PURPOSE Building Your Referral Machine

2 2 Introduction: Word of Mouth has Become Word of Web The potential benefits of social recruiting are huge, with today s social networks helping people connect with very large audiences faster and more efficiently than ever before. But organizations must beware of the pitfalls associated with implementing a social recruitment strategy. Recruiters are often asked to fill positions from limited talent pools, but their approach to using social media can leave them inundated with unqualified applicants. This doesn t mean that the promise of social recruiting is a myth. However, this e-book explores how you can employ a social referral strategy to improve ROI. 58 percent of HR professionals say social media is a current part of their recruitment strategy Source: 2011 survey of HR professionals by Survey.com, commissioned by SelectMinds (acquired by in 2012)

3 Introduction Referral Building Resources 3 See how you can build a referral machine with social sourcing.

4 4 Referral Strategy Referrals are the most cost-effective source of new talent, often producing the highest quality candidates. But there are a number of obstacles to creating an effective referral machine. Communication: How Do You Keep Open Jobs on the Referral Radar? For referrals to be successful employees and alumni must be aware of existing openings. So it s essential constantly to inform them of open positions, keeping your referral program at the front of their minds. Motivation: How Do You Make Them Care? A referral program that sends openings matched to an employee s background and network will be more successful than one that just distributes all vacancies to everybody. But targeting job-opening announcements without a solution to simplify the process can be hugely labour-intensive. Simplicity: How Do You Eliminate Effort? Even with publishing openings on your Website, providing generous referral bonuses, and sending out weekly messages, referral rates may remain low if the process is too time-consuming. Simplifying the referral process, and even making it fun, will increase participation.

5 Introduction Referral Building Resources CASE STUDY MCGRAW-HILL SUCCESS STORY McGraw-Hill is a leading global financial information and education company. Its existing employee referral program was underperforming, as few employees were aware of it and the system was difficult to use. 5 The company worked with SelectMinds to implement a prominent, easy-to-use referral program that was widely adopted by employees and produced candidates who were 7-8x more likely to be hired than candidates from leading job boards. McGraw-Hill expects to increase its referral rates from 25% to 40% as a result of implementing the SelectMinds user interface. 53 percent say referrals provide a lower cost per hire Source: 2011 survey of HR professionals by Survey.com, commissioned by SelectMinds (acquired by in 2012)

6 6 Tips for Building a Social Referral Machine Referral recruiting is based on the principle that high achievers know other high achievers. When your employees trusted contacts share your openings with their trusted contacts your organization s recruiting reach grows exponentially which means you can wait for the right talent to come to you. For this to happen, you need to: Maintain online communication An intelligent social recruiting solution will connect your workforce, mine its contacts for potential talent, and proactively suggest connections to drive referrals Motivate participation Rewarding employees for referrals is essential, and an intelligent referral solution will track bonus eligibility throughout the process. Even when job openings go viral, it will automatically calculate which employees are entitled to which bonuses Make it easy and rewarding An intelligent social recruiting solution allows your employees and alumni to participate at the click of a button, dramatically increasing participation levels.

7 Introduction Referral Building Resources Reinforce your employment brand An intelligent referral solution will automatically send out branded s, and direct applicants to branded Web pages, to provide brand consistency throughout the application process. 7 CASE STUDY EBAY STELLAR RESULTS & VALUE 349,065 job openings viewed through referrals during the first six months, would have cost over $200,000 on a traditional job site. Would take four full-time recruiters to hire as many employees as ebay did through referral program. Sixty percent of hires made through referrals were mid-to senior-level. Click here to find out more

8 8 See why social sourcing is not a nice to have it s a gotta have.

9 Facebook f Logo RGB /.eps Facebook f Logo RGB /.eps Introduction Referral Building Resources Conclusion Today s recruiters face growing challenges to find the right talent to suit the needs of their organization. To drive success, innovative solutions are needed that use the latest technology to take full advantage of employee and alumni social networks. With such a strategy in place, you can let your brand equity feed a referral machine that brings top talent to you. 9 STAY CONNECTED LEARN MOre Taleo Social Sourcing Cloud Service How ready are you for the Cloud? White Paper Social Networking with a Purpose: Building Your Referral Machine

10 June 2013 Author: Marketing Accelerate and Complete Your HR Transformation March 2012 Author: Corporation Marketing World Headquarters 500 Parkway Redwood Corporation Shores, CA U.S.A. World Headquarters 500 Parkway Find Redwood your local Shores, CA contact number U.S.A. here: contact/global html Find your local contact number here:.com contact/global html Copyright 2012, and/or its affiliates. All rights reserved. This document is provided for information purposes only Copyright 2013, and/or its affiliates. All rights reserved. This document is provided for information purposes only and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor subject to and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document and of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. and and Java Java are are registered registered trademarks trademarks of of and/or and/or its its affiliates. affiliates. Other names may be trademarks of their respective Other owners. names may be trademarks of their respective owners. AMD, Opteron, the AMD logo, and the AMD Opteron logo are trademarks or registered trademarks of Advanced Micro Devices. Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. UNIX is a registered trademark licensed through X/Open X/Open Company, Company, Ltd. Ltd..com